The State Bank of Vietnam raised the inter-bank average exchange ratebetween the VND and USD by 1 percent early on May 7, from 21,458VND to21,673VND per one USD.
Banks may set their rate within a range of +/- 1 percent of the SBV-set inter-bank average rate.
This is the second time this year the SBV has adjusted the inter-bankrate. The first time was on January 7, also with an increase of 1percent.
The SBV said the adjustment is made tocounter negative impacts from the international market in line with itspolicy set for this year, which aims to keep fluctuation in the exchangerate at not more than 2 percent.
The bank addedthat the rising exchange rate over recent days was due to psychologicalreasons and market expectations, while was still within the band set bythe central bank.
Looking ahead, the SBV willcontinue to apply synchronous policy tools and measures to keep theexchange rate and market stable on the new price level. It will closelymonitor the international and domestic markets as well as macroeconomicand monetary forecasts in order to make timely response.-VNA
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